The USDJPY pair traded with clear negativity yesterday to break 115.90 level and settles below it, which confirms the continuation of the bearish bias in the upcoming period, opening the way to test 113.97 level as a next main station, noting that the EMA50 forms negative pressure that supports the expected decline.
It is important to monitor the price behavior when reaching the targeted level, as breaking it represents negative factor that will push the pair to suffer more losses on the longer term basis, and the next target goes further towards 106.63, while the current negative pressure will remain valid unless the price managed to breach 117.20 followed by 118.40 levels and hold above them.
Expected trading range for today is between 114.50 support and 116.85 resistance.
Expected trend for today: Bearish